India Reliance Q3 Oil-to-Chemicals rev up 10%
by ChemOrbis Editorial Team - content@chemorbis.com
Indian conglomerate Reliance Industries reported a 10% on-quarter increase in revenue to INR838 billion ($11.5 billion) for its fiscal third quarter to end-December.
In a statement, the producer attributed the improved performance to higher volumes of transportation fuels, PTA and polyester.
It’s earnings before interest, tax, depreciation and amortization (EBITDA) increased 10.3% on-quarter to INR97.6 billion ($1.3 billion) due to higher product sales and a shifting from product placement from exports to the domestic market.
Reliance said overall polymer demand grew 8% on-quarter and polyester demand growth was 38% and noted that PP, PE and PVC prices by 18%, 8% and 29% on-quarter.
In a statement, the producer attributed the improved performance to higher volumes of transportation fuels, PTA and polyester.
It’s earnings before interest, tax, depreciation and amortization (EBITDA) increased 10.3% on-quarter to INR97.6 billion ($1.3 billion) due to higher product sales and a shifting from product placement from exports to the domestic market.
Reliance said overall polymer demand grew 8% on-quarter and polyester demand growth was 38% and noted that PP, PE and PVC prices by 18%, 8% and 29% on-quarter.
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